Kingsway Financial Services (NYSE:KWY) Director Buys $69,214.56 in Stock

Key Points

• Director Joshua Horowitz bought 7,034 Kingsway Financial Services shares for $69,214.56, increasing his direct holdings by 1.88% to 380,334 shares. He also made several additional purchases in August and May.
• Kingsway shares rose 2.1% to $10.10, but the company reported a quarterly loss of $0.03 per share, negative net margin and negative return on equity.
• Institutional investors own 72.38% of the stock, while analyst sentiment remains bearish: the sole analyst rates KWY “Sell,” and Weiss Ratings recently maintained a Sell-related rating despite an upgrade.

Kingsway Financial Services Inc (NYSE:KWY - Get Free Report) Director Joshua Horowitz acquired 7,034 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average cost of $9.84 per share, with a total value of $69,214.56. Following the completion of the purchase, the director directly owned 380,334 shares of the company's stock, valued at approximately $3,742,486.56. This represents a 1.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Joshua Horowitz also recently made the following trade(s):

• On Thursday, August 20th, Joshua Horowitz acquired 769 shares of Kingsway Financial Services stock. The stock was purchased at an average price of $9.89 per share, for a total transaction of $7,605.41.
• On Tuesday, August 18th, Joshua Horowitz bought 1,300 shares of Kingsway Financial Services stock. The shares were purchased at an average cost of $9.75 per share, for a total transaction of $12,675.00.
• On Friday, May 29th, Joshua Horowitz bought 3,800 shares of Kingsway Financial Services stock. The shares were purchased at an average price of $9.91 per share, with a total value of $37,658.00.
• On Thursday, May 28th, Joshua Horowitz purchased 700 shares of Kingsway Financial Services stock. The shares were acquired at an average price of $9.95 per share, for a total transaction of $6,965.00.

Kingsway Financial Services Stock Up 2.1%

Shares of NYSE KWY traded up $0.21 during midday trading on Thursday, hitting $10.10. The company's stock had a trading volume of 120,633 shares, compared to its average volume of 77,508. The business's fifty day simple moving average is $9.84 and its two-hundred day simple moving average is $11.20. The company has a debt-to-equity ratio of 4.39, a current ratio of 1.36 and a quick ratio of 1.36. Kingsway Financial Services Inc has a 1 year low of $8.41 and a 1 year high of $16.51. The firm has a market capitalization of $292.19 million, a price-to-earnings ratio of -33.67 and a beta of 0.24.

Kingsway Financial Services (NYSE:KWY - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter. The business had revenue of $39.44 million for the quarter. Kingsway Financial Services had a negative return on equity of 61.62% and a negative net margin of 6.69%.

Hedge Funds Weigh In On Kingsway Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in KWY. Legal & General Group Plc raised its holdings in Kingsway Financial Services by 66.2% in the second quarter. Legal & General Group Plc now owns 2,009 shares of the company's stock valued at $27,000 after acquiring an additional 800 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Kingsway Financial Services by 220.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,809 shares of the company's stock worth $52,000 after acquiring an additional 2,622 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Kingsway Financial Services by 143.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,141 shares of the company's stock worth $61,000 after acquiring an additional 2,442 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Kingsway Financial Services by 17.2% during the 2nd quarter. Osaic Holdings Inc. now owns 6,925 shares of the company's stock worth $94,000 after acquiring an additional 1,015 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Kingsway Financial Services by 36.5% in the 4th quarter. Bank of America Corp DE now owns 12,334 shares of the company's stock valued at $103,000 after purchasing an additional 3,300 shares during the last quarter. 72.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Kingsway Financial Services from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of "Sell".

Kingsway Financial Services Company Profile

Kingsway Financial Services Inc is a holding company that operates through a group of subsidiaries focused on extended warranty and specialty insurance-related services. The company's businesses primarily provide administration, underwriting, and related support services for protection products offered through automotive, consumer, and other markets.

Kingsway has historically operated in the insurance and service contract space, with activities centered on helping businesses and consumers manage risk and protection coverage needs.

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